The latest OECD Global Outlook on Financing for Sustainable Development calls for a major overhaul of the global system to mobilise resources to build a sustainable future for all.
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A decade after the international community pledged in Addis Ababa to ramp up development finance, the gulf between the amounts mobilised by developing and emerging economies and the trillions they need to meet their development goals has been steadily growing. Without significant reform, the gap is set to swell to USD 6.4 trillion by 2030, the target year for the Sustainable Development Goals (SDGs).
The latest Global Outlook on Financing for Sustainable Development calls for a major overhaul of the global system to mobilise resources to build a sustainable future for all.
The report highlights:
- 36% surge in estimated financing needs between 2015 and 2022, driven in part by climate change
- 22% growth in available funding over the same period to reach a total of USD 5.24 trillion in 2022
- $6.4 trillion financing gap projected by 2030 without major reforms to the global system
